Description

Typically, the fund dedicates a minimum of 80% of its total investment pool – encompassing both its net assets and any funds borrowed for investment – to fixed-income securities. Its holdings may encompass debt securities from diverse issuers, including public and private U.S. companies, the U.S. government and its agencies (such as the Federal Home Loan Bank), and state and local governments issuing taxable municipal securities. Additionally, the fund is permitted to invest in asset-backed and mortgage-backed debt instruments.